Abercrombie & Fitch sales increased by 20% in the third quarter – Kommersant
Today, November 21, American casual clothing retail chain Abercrombie & Fitch (A&F) reportedthat its global sales reached $1.06 billion in the third quarter, up 20% from the same period last year and higher forecasts analysts surveyed by LSEG expected sales of $980 million. A&F's net profit in the third quarter was $98 million, compared with a loss of $718 thousand a year earlier.
Experts explain the growth in the performance of A&F, which was in crisis for several years, by the results of the reforms carried out to revise the marketing strategy and product range. For example, sales of clothing under its own Abercrombie & Fitch brand jumped 30% in the third quarter, to $550 million. Thanks to good results, A&F raised its revenue forecast for the entire 2023. If earlier she expected an increase of 10% compared to 2022, now she expects an increase of 12–14%.
